In May, Lightstone bought the 1-million-sq.-ft. Whitestone Multiplex Cinemas site for $350 million, and it has since been meeting with borough officials about repositioning the property.

Ms. Cintron [president of the Bronx Overall Development Corp.] said Lightstone "purchased the property with the purpose of turning it into a Woodbury Commons-type outlet mall" and that Bronx Community Board 10 officials have already been briefed on the plan.